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Binance US Reacts to Bitcoin Cash FUD, Assures Users Their Funds Are Safe

July 13, 2023 0

Binance’s U.S. platform has rejected rumors regarding its bitcoin cash (BCH) reserves, reassuring customers that their funds are safe. On Sunday, the exchange restored BCH withdrawals after a brief suspension attributed to a technical issue with the automated system managing deposit flows.

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Bank of China Expands Digital Yuan Testing to SIM Cards and NFC Payments

July 13, 2023 0

The state-owned financial institution Bank of China has revealed a partnership with China Unicom and China Telecom in order to test SIM cards and near-field communication (NFC) payments tethered to the renminbi. The Bank of China explains that the pilot will be tested by selected users and areas and it currently only supports Android phones. […]

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Western Sanctions on Russia Demolish Global Trade System, Cause Inflation Surge, Says Russian Banker

July 13, 2023 0

Russia’s second-largest bank’s chairman says by imposing sanctions on Russia, the West has “demolished the global trade system and caused an inflation surge.” Pointing to the U.S. banking crisis as an example, he stressed: “This is virtually the largest financial and banking crisis since 2008, and it is already spreading to Europe.” ’Sanctions Against Russia […]

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US Inflation Hits Two-Year Low, Boosting Stocks and Precious Metals

July 13, 2023 0

On Wednesday, July 12, 2023, the U.S. Bureau of Labor Statistics released the Consumer Price Index report for June, showing a 3% increase in inflation, the lowest level since March 2021. The U.S. inflation rate has fallen for 12 consecutive months, with the index rising 0.2% on a monthly basis. Labor Department’s CPI Data Shows […]

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Economist Predicts End of US Dollar Dominance as More Countries De-Dollarize

July 13, 2023 0

The chief economist at S&P Global has predicted that the U.S. dollar “will no longer be the dominant world currency.” Highlighting the diminishing influence of the USD, he pointed out that an increasing number of countries are de-dollarizing, noting that the Chinese yuan is growing in popularity as a trading currency. Economist Expects US Dollar […]

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Leveraged Yield Protocol Rodeo Finance Initially Loses $1.7 Million in ‘Force-Investment’ Hack

July 12, 2023 0

Rodeo Finance, a leveraged yield protocol on Arbitrum, was on July 10 a victim of a “force-investment” hack in which almost $1.7 million was reportedly stolen. According to Rodeo Finance, about $810,000 has been recovered so far and there are plans to freeze the stolen funds. Protocol in ‘Paused State’ Rodeo Finance, a leveraged yield […]

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US Government Transfers $300 Million Worth of Seized Silk Road Bitcoins

July 12, 2023 0

On July 12, 2023, onchain data shows the U.S. government transferred 9,800 bitcoins (BTC), worth just over $300 million. These bitcoins originally came from James Zhong’s Silk Road hack. In March, the Department of Justice also moved a similar amount of bitcoins associated with Silk Road. Silk Road Bitcoin Stash Controlled by the Feds Moves, […]

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Top Stablecoins See Steady Decline Over Past Month as Dollar-Pegged Token Economy Shrinks

July 12, 2023 0

The top stablecoins have continued to see redemptions over the past 30 days as the dollar-pegged crypto economy currently hovers at $127.32 billion on July 12. The stablecoin BUSD’s supply has dropped below the 4 billion mark as the token’s number of coins in circulation has fallen 16.7% over the last month. Dollar-Pegged Cryptos Feel […]

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Biggest Movers: BCH 6% Higher, as US Inflation Falls by More Than Expected

July 12, 2023 0

Bitcoin cash rose by nearly 6% on Wednesday, following the release of the latest consumer price index (CPI) in the United States. Inflation fell by 1.0% from May, coming in at 3.0% last month. Polkadot also rose, extending its winning run for a third straight day. Bitcoin Cash (BCH) Bitcoin cash (BCH) rose by as […]

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Silk Road Advisor Sentenced to 20 Years in Prison While a Rogue Double-Agent Eludes Capture

July 12, 2023 0

On Tuesday, July 11, 2023, the U.S. Attorney’s Office for the Southern District of New York, led by attorney Damian Williams, announced a 20-year prison sentence for Roger Clark. Clark was allegedly the senior advisor to the original Silk Road, an infamous darknet marketplace that operated from 2011 until 2013. Prosecutors from the office reported […]